Naz Rahman, an analyst from Maxim Group, reiterated the Buy rating on Vivani Medical. The associated price target remains the same with $4.00.
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Naz Rahman has given his Buy rating due to a combination of factors surrounding Vivani Medical’s strategic focus and innovative product development. The company is prioritizing its efforts on NPM-139, a promising treatment for obesity, which stands out in the crowded GLP-1/obesity market due to its unique 6-month implant design. This approach addresses patient compliance issues associated with daily or weekly therapies, potentially positioning NPM-139 as a strong competitor against established players like Eli Lilly and Novo Nordisk.
Additionally, Vivani’s decision to spin off its subsidiary, Cortigent, allows the company to concentrate resources and management on advancing NPM-139 through clinical trials. The spin-off, expected to be completed by the end of 2025, could also provide financial benefits that may further support the development of NPM-139. These strategic moves, combined with positive preclinical results, underpin Rahman’s confidence in Vivani’s growth potential and justify the Buy rating.
In another report released on September 17, H.C. Wainwright also reiterated a Buy rating on the stock with a $4.00 price target.
VANI’s price has also changed moderately for the past six months – from $1.100 to $1.450, which is a 31.82% increase.